{"id":1285081,"date":"2024-09-09T13:37:17","date_gmt":"2024-09-09T08:07:17","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1285081"},"modified":"2024-09-09T13:39:59","modified_gmt":"2024-09-09T08:09:59","slug":"growth-of-it-jobs-drops-by-50-in-last-5-years","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/growth-of-it-jobs-drops-by-50-in-last-5-years\/","title":{"rendered":"Growth Of IT & Other White Collar Jobs Drops By 50% In Last 5 Years"},"content":{"rendered":"\n

As per an Economic Times study of the 30 Sensex Companies, the pace of growth in India’s white collar jobs has reduced from 8.4% in 2018-19 to just 4.4% year-over-year in 2023-24.<\/p>\n\n\n\n

\"Growth<\/figure>\n\n\n\n

This means that the growth rate has almost halved as compared to what it was 5 years ago.<\/p>\n\n\n\n

Why Are White Collar Jobs Plunging? <\/strong><\/p>\n\n\n\n

As per the HR analysts, this decline can be attributed to the slowdown<\/a> in the tech and consumer sectors due to stresses. Meanwhile, company executives saw the slower growth as affecting consumption recovery.<\/p>\n\n\n\n

What Are the Number in Top Companies?<\/strong><\/p>\n\n\n\n

As compared to 2022-23, there is drop in net employment in 2023-24 in 6 companies which include the likes of Infosys, SBI, HCL Technologies, Tata Motors, Titan Company and Ultratech Cement.<\/p>\n\n\n\n

As compared to 2022-23, TCS as well as Wipro saw a drop in employee headcount by 13,249 and 23,257 respectively in 2023-24.<\/p>\n\n\n\n

IT giant Infosys on the other hand saw drop in employee count by almost 26,000 to 317,240 in 2023-24.<\/p>\n\n\n\n

On the contrary, the number of permanent employee count in HCL Technologies, Tata Motors and Ultratech Cement increased in 2023-24. However, these same saw a drop in employee count in the “other than permanent” jobs that are on contracts and third-party rolls.<\/p>\n\n\n\n

Speaking of the overall employment growth in India, there is a fall in overall unemployment rate in India as per the government data. This is reflected in the net payroll additions under EPFO more than doubling in the past 5 years, which shows a healthy growth in formal employment.<\/p>\n","protected":false},"excerpt":{"rendered":"

As per an Economic Times study of the 30 Sensex Companies, the pace of growth in India’s white collar jobs has reduced from 8.4% in 2018-19 to just 4.4% year-over-year in 2023-24. This means that the growth rate has almost halved as compared to what it was 5 years ago. Why Are White Collar Jobs […]<\/p>\n","protected":false},"author":30,"featured_media":1285089,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[774,6048],"class_list":["post-1285081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-it-jobs","tag-while-collar-jobs"],"acf":[],"yoast_head":"\nGrowth Of IT & Other White Collar Jobs Drops By 50% In Last 5 Years - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/growth-of-it-jobs-drops-by-50-in-last-5-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Growth Of IT & Other White Collar Jobs Drops By 50% In Last 5 Years - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"As per an Economic Times study of the 30 Sensex Companies, the pace of growth in India’s white collar jobs has reduced from 8.4% in 2018-19 to just 4.4% year-over-year in 2023-24. 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